Pillars of Prosperity: Free Markets, Honest Money, Private Property [Paperback]

Ron Paul (Author)

Book Description

Publication Date: March 1, 2008

This economic manifesto by Ron Paul (484 pages!) collects his greatest speeches and debates over the last 30 years, and provides documentary evidence that he is not only a master of the topic; he has provided a coherent explanation of nearly everything the government has done wrong in this area since he first entered public office. He also provides a way out, as implied by the subtitle: free market, honest money, and private property.

Dr. Paul has consistently battled for all three.

Economics is topic about which most politicians are abysmally ignorant. As this books shows, Ron Paul is a master of the topic and the nation's teacher on a vast range of economic issues. He addresses monetary policy during critical times such as the late 1970s inflation mania, and was a lone voice pointing to the real cause of Federal Reserve monetary policy.

Whereas most members of Congress are intimidated by Fed officials, Paul's confrontations with Greenspan are documented here word for word. In addition, he reveals the social and economic effects of loose credit, and shows the ill-effects of bailouts. He addresses high taxes, regulation, trade restrictions, and bravely denounces sanctions against foreign countries for fueling international tensions.

He also explains his view of free trade, for the real thing but against misnamed treaties that embroil international traders in bureaucracy.

He covers welfare, bureaucracy, war, and a a host of other economic topics in what is surely the most comprehensive, intelligent, and revealing book on economics ever written by a U.S. political figure -- all informed by the Austrian tradition of thought that has so influenced his thinking.

Product Details

• Paperback: 484 pages
• Publisher: Ludwig von Mises Institute; 1st edition (March 1, 2008)
• Language: English
• ISBN-10: 1933550244
• ISBN-13: 978-1933550244
• Product Dimensions: 8.8 x 5.9 x 1.3 inches
• Shipping Weight: 1.8 pounds (View shipping rates and policies)
• Average Customer Review: 2.8 out of 5 stars  See all reviews (36 customer reviews)
• Amazon Best Sellers Rank: #236,821 in Books (See Top 100 in Books)

More About the Author

Ron Paul, an eleven-term congressman from Texas, is the leading advocate of freedom in our nation's capital. He has devoted his political career to the defense of individual liberty, sound money, and a non-interventionist foreign policy. Judge Andrew Napolitano calls him "the Thomas Jefferson of our day." After serving as a flight surgeon in the U.S. Air Force in the 1960s, Dr. Paul moved to Texas to begin a civilian medical practice, delivering over four thousand babies in his career as an obstetrician. He served in Congress from 1976 to 1984, and again from 1996 to the present. He and Carol Paul, his wife of fifty-one years, have five children, eighteen grandchildren, and one great-grandchild.Ron Paul, the New York Post once wrote, is a politician who "cannot be bought by special interests." "There are few people in public life who, through thick and thin, rain or shine, stick to their principles," added a congressional colleague. "Ron Paul is one of those few."

Customer Reviews

Most Helpful Customer Reviews

81 of 84 people found the following review helpful:

5.0 out of 5 stars Will America hear his call for sound money?, January 20, 2008

By 

golgotha.gov (Texas) - See all my reviews

This review is from: Pillars of Prosperity: Free Markets, Honest Money, Private Property (Paperback)

PILLARS OF PROSPERITY
by Dr. Ron Paul

I am very happy to review the latest book from Texas congressman Ron Paul. His last book, A Foreign Policy of Freedom, consisted of speeches regarding U.S. interventions from the 1970s to the present day. Similarly, this title collects a career's worth of writings on economics, monetary policy and trade. Economics might not sound like a very exciting topic but Dr. Paul has said many times that his interest in politics really started after he read The Road to Serfdom, which is about the dangers of a controlled economy. This book is published by the Mises Institute, whose founder Lew Rockwell provides a brief forward.

This book is quite extensive and has nine chapters. The first two are more about principles are less about the "nuts and bolts". In the first chapter, Dr. Paul connects capitalism with individual freedom. Government intervention into the economy diminishes our freedom in that it not only leaves us with less money to spend as we choose, but that it also funds policies which are often against the interests of the individual. I believe that chapter two is a direct reprint of an earlier book 'Mises and Austrian economics: A personal view', which is a straightforward explanation of the Austrian School and how Dr. Paul came to identify with Ludwig von Mises. Although economics can be difficult, I did not have any trouble making my way through these explanations. These sections prepare you for the rest of the book, which has more to do with specific policies.

Chapter Three is exclusively dedicated to Social Security. This is the shortest chapter, but it contains a few ideas on how to repair the social security system.

Chapter four is about taxes, or more specifically tax burdens. Dr. Paul has been a longtime supporter of the idea that the IRS should be abolished. It is for this reason that he also supports the 'Liberty Amendment' - an important totem of the "Old Right" that seeks to return the country to true Constitutional law and repeal the sixteenth amendment. The speeches in this section are not that radical however and simply show many of the confusing and frustrating ways that taxes affect us all. But it isn't all complaining, we also hear some good solutions such as the 'Family Health Tax Cut Act' which would provide much needed tax credits to parents who pay for their children's health care expenses. Previously, Dr. Paul contributed to populist lawyer Michael Minns' book How to Survive the IRS.

Next we have a king-size chapter on "sound money", Dr. Paul's signature economic issue. You will notice that the writings in this section go back to the mid-1970s. If you've never heard terms like "fiat money" or "inflation tax" then this chapter is a great starting place. What he advocates here is currency that has a real redeemable value attached to gold. What has happened is that the U.S. dollar's connection to gold has been severed, and now the controversial Federal Reserve is enabled to print money as it sees fit, even as the value of the dollar is in free fall while the value of gold remains stable. This is truly a subject which Dr. Paul is an expert on, and something he has cared about for a long time. For further reading on the subject, check out The Case for Gold.

The next two chapters are on international issues. Chapter six takes on the controversial neoliberal trade agreements such as NAFTA and GATT. Are they really "free trade" or do they amount to an internationalist form of "managed trade"? Most importantly, should free market advocates support them? What's more, many of these agreements set up new agencies who are not elected by U.S. citizens and operate outside of Constitutional law. There is also a great speech on corporate welfare which Dr. Paul is also against. I would especially recommend this chapter to any left-leaning or producerist readers who are critical of corporate dealings at the expense of the little guy. After that, we get a chapter on the U.S.'s relationships with different countries such as China, Columbia, Mexico and Syria and whether our participation in the IMF, World Trade Organization and the United Nations is worthwhile at all. The issue of whether economic sanctions (such as those recently enacted against Iran) are effective is also addressed.

Next, there is a short chapter on the Housing market which has been all over the news lately (Dr. Paul ties the crisis to the Federal Reserve). After that is the mammoth ninth chapter - "Spending, Taxes and Regulations". Here you will find several bills that Dr. Paul has opposed due to their unconstitutional nature. Sometimes he rejects the bills due to excess spending or unnecessary regulation. In other cases he opposes them on the grounds that they compromise the Bill of Rights (check out his speech on the Financial Anti-Terrorism Act, only a month after September 11 when the most of congress would sign off on all things 'anti-terror'). It is in this chapter that you can also read about the non-scandalous "medals controversy". Congress was voting to give Medals of Honor to Mother Theresa, Rosa Parks and Ronald Reagan, but would pay for the medals with taxpayer money. Ron Paul saw the flaw here and offered to donate $100 of his own dollars and challenged other congressional representatives to do the same so that the money would truly come from Congress and not from the taxpayers. Needless to say, there weren't many takers! As Dr. Paul points out: "It is very easy to be generous with other people's money". (pg. 411)

Dr. Paul has some powerful ideas and a lot of people try to use his government-cutting against him. Many Republicans yak and yak about cutting spending but shell out millions to their corporate buddies (socialism for the rich). They offer up a flat tax or a "fair tax" because they are either dishonest or do not understand the real issue. Is it extreme to cut the IRS, to withdraw from international trade agreements, or to abolish the Federal Reserve? Is it extreme to dislike the fact that your tax dollars are funding all kinds of operations that you may be morally opposed to? Is it extreme to believe that your money really is YOUR money? The founders didn't think so!

FREE AT LAST 2008

30 of 33 people found the following review helpful:

5.0 out of 5 stars Ron Paul Delivers again and again... Economics 101. Freedom's Guardian., April 21, 2008

By 

JS Moore "Understanding Apples" (Johnson City, TN) - See all my reviews
(REAL NAME)   

This review is from: Pillars of Prosperity: Free Markets, Honest Money, Private Property (Paperback)

Not only has Dr. Ron Paul updated F.A. Hayak's The Road to Serfdom and applied it to the modern age - he has done so in an honest effort to safe the United States from ruination. As shown within these pages with some of his showdowns with Greenspan and Congress and many of with his speeches Dr. Ron Paul cares greatly about defending the freedoms that are little by little being taken from us Americans right before our very eyes.

Like his other books - this is a must have for any library - nearly 500 pages. Economics 101.

And this book shows once again why I will be voting for Dr. Ron Paul for Presidency - even if I have to write in his name.

Understanding Apples

Gathering Leaves: Understanding Apples Book Two

24 of 27 people found the following review helpful:

5.0 out of 5 stars Ron Paul is a brilliant man. I wish more US citizens "got it" and would vote a brilliant man like him to be president., May 10, 2008

By 

R. Geyer - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Pillars of Prosperity: Free Markets, Honest Money, Private Property (Paperback)

I absolutely love this book. His views of the economy are dead on but unfortunately I don't see a scenario where his policies and views will ever be taken completely seriously. The current economic policy of the US will eventually cause an economic collapse. The people who benefit most from currency debasement know this and are positioning their assets accordingly while still hyping the US dollar which is destined to fail under current policy. I just hope the publisher doesn't print too many copies of the book out of thin air and debase my book!